DINARRECAPS8 3/24/24 DINARRECAPS8 3/24/24

Goldilocks' Comments and Global Economic News Sunday Evening 3-24-24

Goldilocks' Comments and Global Economic News Sunday Evening 3-24-24
Good Evening Dinar Recaps,

"The Government of the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR Government) issued around HK$6 billion worth of digital green bond offering denominated in four currencies – Hong Kong dollar, U.S. dollar, Renminbi and Euro."

This move constitutes the first multi-currency digital bond offering in the world.

A green bond is a fixed-income instrument used to raise money for climate and environmental projects.

These bonds are asset-linked and backed by the issuing entity’s balance sheet. They have the same credit rating as their issuers’ other debt obligations.

These projects go on to execute the transformative efforts of moving our economy into a new digital framework and projects designed to meet the needs of a changing world.

This multi-currency Green Bond will allow Hong Kong to be provided liquidity in a multi-currency digital framework. Crédit Agricole CIB

© Goldilocks

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Goldilocks' Comments and Global Economic News Sunday Evening 3-24-24
Good Evening Dinar Recaps,

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When foreign currency is exchanged across many Clearing House platforms, you want to make sure that your money is exchanged through the appropriate routes.

Accounts with similar IDs or similar ownership benefits utilizing this mechanism keeps the money moving to where it is supposed to go.

Now, you are seeing why so much time has been spent on beneficial ownership reforms.

On April 2, Hong Kong Exchanges and Clearing Limited will offer this new self-match prevention mechanism service for the securities market (ie Foreign Currency) will open for applications by exchange participants.

Those who utilize this service will be given more security in their trades across borders utilizing various currencies to finish the transactions. Hong Kong Exchange CME Group

© Goldilocks

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Bank mergers have been taking place for the last few years, and this trend is expected to continue as our economy shifts into a new digital environment.

The Office of the Comptroller of the Currency acting comptroller has given an official statement showing his agreement with the "FDIC’s Proposed Statement of Policy on Bank Merger Transactions."

This will allow banks to move forward with necessary compliance issues inside a Basel 3 regimen. Banks who are able to move forward will do so. Those who cannot will merge with those who can. Office of the Comptroller of the Currency

© Goldilocks

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Trading mechanisms are changing, banking reforms are taking place, and critical minerals are being secured.

This is the new world that is being digitized in front of our eyes. Tokenized assets are expected to be well above 90% complete by the end of the year on a Global scale.

Many aspects of this new digital economy are being interfaced on the new Quantum Financial System as we speak.

These changes and challenges are much needed in today's world, but it is not enough. Here is where Artificial Intelligence comes in to give us guidance.

The future of Finance requires the successful integration of AI and QFS on financial matters going forward.

New AI simulations have to be capable of meeting the challenges of our new economy through artificial structures designed to clear a path forward and synchronize them with joint efforts to see these manufactured projections come to their conclusion. The Quantum Insider

© Goldilocks

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The Fed’s Liabilities: How Far Can QT Go? What’s the Lowest Possible Level of the Balance Sheet without Blowing Stuff Up? | Wolf Street
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EU cracks down on anonymous crypto transactions, needing ownership proof to send/receive payments, aiming to fight money laundering.

Sending/receiving over €10,000 in cash is illegal, targeting large untraceable transactions. Coinpedia

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Backed, a key player in the tokenization of real-world assets, has unveiled a new suite of services tailored for financial institutions looking to enter the digital asset space with security and compliance at the forefront.

The Swiss-based company is expanding its offerings to include the tokenization of private funds and products, addressing the tech-heavy focus of existing solutions by emphasizing compliance and trust.

The newly launched services include Tokenized Trackers for on-chain representation of securities or thematic baskets, Tokenized Actively Managed Certificates (AMCs) for blockchain-based investment strategies, and a comprehensive Tokenization Platform for the creation, management, and distribution of tokenized investment products. Crowdfund Insider
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UAE firm challenges China for stake in Zambian copper mine | The Cradle

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Dinar Recaps 20 3/24/24 Dinar Recaps 20 3/24/24

Some "Sunday News" Posted by Clare at KTFA 3-24-2024

KTFA:

Clare: Natural resources in Iraq...a huge treasure neglected by an “official decision”!

3/24/2024

Economic researcher, Ziyad Al-Hashimi, confirmed that (mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, as unfair government decisions deprived Iraq of huge billion-dollar revenues and global market shares.

Al-Hashemi said in a blog post on the “X” platform, followed by “ Jarida ”, that “(mismanagement of Iraq’s natural resources) and unfair government decisions have deprived Iraq of huge billion-dollar revenues and global market shares, as Iraq is ranked ninth in the world in terms of size.” It has natural resources within its territory, such as oil, natural gas, phosphate, sulfur, and other minerals.

KTFA:

Clare: Natural resources in Iraq...a huge treasure neglected by an “official decision”!

3/24/2024

He added, “Estimations indicate that the value of Iraqi natural resources reaches up to 16 trillion dollars, and this puts Iraq in a distinguished position among the countries of the world rich in natural resources, and despite these enormous wealth, there is official Iraqi negligence to invest in expanding exploration, extraction, production and export.” Many of these resources are natural, as the government’s focus is exclusively on oil.”

He explained, “For example, we find that there is deliberate neglect of the Iraqi phosphate sector (by official decision and for unknown reasons) despite Iraq’s possession of 9% of the global phosphate reserve, and phosphate exports can generate tens of billions of revenues annually for the Iraqi treasury.”

He stressed, “(Mismanagement of natural resources) is one of the major problems that the Iraqi economy suffers from, and it does not appear that there are any official Iraqi efforts to overcome the mistakes that caused billions in losses for this country and its economy, and until the Iraqi government wakes up from its slumber and begins to work diligently and effectively.” Iraq will continue to lose opportunities, shares, and money to other countries, which have greatly benefited from the absence of Iraq and its exports of natural resources from the global market. LINK

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Clare: Iraq and Kuwait are discussing enhancing trade exchange and encouraging investment

3/24/2024 Baghdad

The Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, and the Kuwaiti Ambassador to Iraq, Tariq Abdullah Al-Faraj, discussed today, Sunday, mechanisms for enhancing trade exchange and encouraging investment between the two countries.
The media office of the Acting Speaker of the House of Representatives stated in a statement received by Mawazine News: “

The Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, discussed, during his meeting in his office today, the Kuwaiti Ambassador to Iraq, Tariq Abdullah Al-Faraj, the overall situation in the two countries, the latest regional developments, and a number of... Files of mutual interest.

He added, "The meeting discussed enhancing trade exchange between the two brotherly countries, establishing a free market to stimulate this sector, and stressing the need to work hard to encourage investment within sustainability standards, in addition to continuing to hold joint committee meetings and exchanging visits between officials of the two countries to resolve some outstanding issues, in addition to exchanging Security information to reduce the threat of terrorism and the spread of drugs.

He continued, "During the meeting, there was also talk about the Kuwaiti National Assembly elections scheduled to be held early next month."

Al-Mandalawi expressed his “wishes for Kuwait’s success in this important achievement, and continued progress and prosperity in various fields.” LINK

Clare: Automation and strong internet...a necessity for reforming the banking system

3/24/2024 Baghdad: Hoda Al-Azzawi

The Finance Committee of the House of Representatives is conducting a very important investigation into the presence of fraudulent deductions from retirees’ salaries by informal associations, while experts in finance and economics unanimously agree on the necessity of a rapid move towards automating banking operations and preparing their infrastructure in terms of strengthening the global network “the Internet.” “As a necessity to reform the banking system.

The Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, in an interview with Al-Sabah, praised “the steps of the Parliamentary Finance Committee to follow up and monitor the banking system and electronic dealings,” and added, “But I believe that the issue needs other steps to prepare the infrastructure and emphasize restoring confidence.” Citizen in Iraqi banks.

He stressed that "the banking sector in general needs radical reform and restructuring of the large number of unnecessary private banks that are not doing their proper banking work," calling for "keeping the real banks that are doing their work and supporting them and providing facilities to them."

He pointed out that "the other point is the emphasis on the issue of the Internet, because electronic dealing is completely linked to the presence of a strong Internet in order for electronic dealing to take place," stressing that "the citizen - until now - does not trust putting his money in banks, and the process needs to build confidence among the citizen and those... Then raise awareness and work to achieve or implement financial inclusion for the citizen by delivering banking services easily to him, starting with the category of employees, retirees, care salary holders, or others, and then moving to other categories.”

He stressed that "the Financial Committee's follow-up of violations and transgressions to steal retirees' funds is a very important step."

As for the expert in the field of anti-corruption, Saeed Yassin Moussa, he said in an interview with “Al-Sabah”: “The system for paying the salaries of employees and retirees needs periodic review, and one of the best ways is to adopt automation and use smart cards to pay and settle salaries, fees, and other financial activities, including commercial ones.” Pointing out that “forgery is expected in paper processes before salaries enter the electronic system, and an example of this is what happened in Anbar, the Martyrs Foundation there, and the Retirement Authority departments in the governorates.”

He explained, “The National Retirement Authority has an excellent experience in preparing the infrastructure for the retirement referral system, starting electronically from institutions through the presence of the Authority’s teams in ministries and public institutions in preparing retirement transactions for employees, with the employee referred for retirement being handed a review card to complete the retirement transaction at the Retirement Authority.” the public".

Moussa stated, “In these aforementioned steps, the possibility of forgery operations is very narrow and even non-existent, but the defect lies in the transactions of the wounded and martyrs through the forgery operations that were discovered by the Integrity Commission in cooperation with the Public Retirement Service, and I deem it necessary to subject all those who They were referred to retirement from this category for review and scrutiny, knowing that forgery operations are carried out through multiple mafias with the complicity of some employees in the relevant departments and forging the signatures of other employees.”

He added, "The process of fraud on smart cards remains. Here, it is necessary to protect the electronic system from hacking, review the banking system, and preserve the confidentiality of the retiree (the private code), while subjecting the relevant associations to periodic auditing, and deterring those who attempt to seize the funds of employees and retirees in loan and advance operations." And selling in installments.”

Last week, the Chairman of the Finance Committee, Atwan Al-Atwani, hosted, along with the committee members, the Director General of Rafidain Bank, Ali Karim, and the Managing Director of the International Smart Card Company to discuss electronic transactions.
A statement from the committee indicated that “the meeting discussed the issue of dealing with (unlicensed) associations, installment sales operations, and receiving advances, and the emphasis on preventing any tampering in the sales process, verifying the information of the advance applicant, and protecting customers’ money from fraud.” LINK

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Clare: Government spokesman: The Prime Minister will discuss 5 basic files during his visit to Washington

3/24/2024 Baghdad

On Sunday, the Iraqi government spokesman, Bassem Al-Awadi, detailed the agenda of Prime Minister Muhammad Shiaa Al-Sudani’s visit to Washington, while specifying 5 basic files that will cover the latter’s meetings with US President Joe Biden.

Al-Awadi said, in a statement reported by the official news agency, and seen by Al-Eqtisad News, that “the main topic of the visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to Washington is to discuss the prospects for the future relationship after the international coalition, and then move to comprehensive relations between the two parties.” "Including the security, military and armament aspects."

He added, "The strategic framework agreement that was signed in 2008, the armament, security and military aspects were able to be the most important, but the framework is broader, so ending the mission of the international coalition will be the first file and then moving to comprehensive relations, and there is a complete legal basis in the agreement."

He pointed out, "In 2008, the security, military, and intelligence aspects were implemented, but the move to various fields of cooperation includes investment, energy, economy, agriculture, and others, especially since the United States is a leading country in technology in all of these areas."

He pointed out that "among the files that will be discussed during the visit also are the financial file and what is related to the decisions of the US Treasury, the influence of Iraqi banks and the debts owed by Iraq, as well as the regional file and what is related to the Gaza war and Iraq's relations with neighboring countries and regional countries," stressing that " Five files will be basic and will cover the meetings in Washington.”

He stressed that "the Prime Minister does not want to go to Washington on a visit just for the sake of visiting, but rather he wants this visit to be successful and to produce realistic and effective results that will positively affect the Iraqi interior, reflect on the regional side, and develop the ABCs of the Iraqi-American relationship."

He noted that "the visit was scheduled to take place late last year, 2023, but the war on Gaza affected that, especially since the Iraqi positions are clear regarding the Gaza war, and the visit cannot take place at a time when the feelings of Iraqis and Arabs in general and the world are in solidarity and sympathize with the Palestinians, and therefore "It will lose its content."

He continued, "The American elections will begin next November, and usually American presidents, six months or more before the elections, refrain from receiving guests from abroad, and focus on the internal file, especially the elections. This year's elections in the United States of America are different from all previous elections, as nothing happened."

In its history, a former president who lost in the elections returns, with a competition and a program different from the program of the Democratic Party, meaning that the American internal event has now occupied the American arena and the world with its repercussions, and thus, in light of this crisis, President Biden singles out a date for a meeting with the Iraqi Prime Minister, and interrupts his election campaign and mocks. "Several days for Iraq and the situation there, a clear indication of respect for the Prime Minister and Iraq's political and international standing."

Regarding the seriousness of activating the strategic framework and scheduling the withdrawal of the international coalition, Al-Awadi said: “This file has been decided by the Iraqi and American parties, and the Iraqi government is 100% serious about this issue, and the Prime Minister cannot be flattering about this issue or debate it, as it relates to the future of Iraq and the sovereignty of Iraq.” The country is not manoeuvrable.

He stressed that "what the Prime Minister says is what he is working on, and he will discuss future relations after the international coalition, and the negotiations will lead to positive results and a timetable for withdrawal," stressing that "this fact cannot be doubted."

He pointed out that “Iraq has a position known to the world regarding the Gaza war, and the Prime Minister spoke about it in international, Arab and regional forums, and conveyed Iraq’s point of view and position on what is going on in Gaza,” noting that “the statement of the press secretary in the White House and the Prime Minister’s Media Office Regarding the Prime Minister’s visit to Washington, he pointed out that the regional reality in the Arab Levant region and our regional neighborhood affects Iraq.

He concluded by saying: “Iraq is a sovereign state, and the Prime Minister seeks for Iraq to play its appropriate role and position in proportion to its size in various historical, civilizational and humanitarian fields in the correct manner,” pointing out that “the American administration is working in this direction, and therefore regional issues will present at various levels.” LINK

Dinar Recaps 20 3/24/24 Dinar Recaps 20 3/24/24

More News, Rumors and Opinions Sunday Afternoon 3-24-2024

TNT:

Tishwash: Sulaymaniyah...a paralyzed life "in work and money" and 20 additional departments will join the strike tomorrow - urgent

Today, Sunday (March 24, 2024), 21 government departments went on strike due to the delay in disbursing employees’ salaries in Kurdistan for the month of February.

The streets of Sulaymaniyah witnessed a complete absence of traffic police, causing problems at a number of major intersections, especially those without a traffic light.

Tomorrow, the strike will expand to include more than 40 districts in Sulaymaniyah, Halabja, Rania, Garmian, Qalaat Diza, Sayyid Sadiq, Darbandikhan and other areas.

Dana Zangana, a member of the Protest Committee in Sulaymaniyah, said in an interview with “Baghdad Today” that, “Tomorrow, educational staff, lecturers, and employees will demonstrate, and the strike will continue, and the demonstration may turn into an open sit-in.”

TNT:

Tishwash: Sulaymaniyah...a paralyzed life "in work and money" and 20 additional departments will join the strike tomorrow - urgent

Today, Sunday (March 24, 2024), 21 government departments went on strike due to the delay in disbursing employees’ salaries in Kurdistan for the month of February.

The streets of Sulaymaniyah witnessed a complete absence of traffic police, causing problems at a number of major intersections, especially those without a traffic light.

Tomorrow, the strike will expand to include more than 40 districts in Sulaymaniyah, Halabja, Rania, Garmian, Qalaat Diza, Sayyid Sadiq, Darbandikhan and other areas.

He added, "The demonstration aims to convey a message to the federal government that we do not want to settle our salaries except in federal banks exclusively, and we reject the My Account project affiliated with the regional government banks."

The markets of Sulaymaniyah are witnessing an unprecedented recession and a complete absence of preparations to receive the blessed Eid al-Fitr, as the city was crowded with thousands of families who went to the markets on the nights of Ramadan to shop and prepare for the blessed holiday, due to the lack of financial liquidity among the driving segment of the economy in the market, who are the employees. link

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CandyKisses: Adviser to the Prime Minister: Approving the 2024 budget schedules in the House of Representatives does not hinder their implementation

{Economic: Al-Furat News} The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the House of Representatives’ approval of the financial budget schedules for the year 2024 does not hinder their implementation.

Saleh told {Al-Furat News} agency, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019, amended when the approval of its legislation was delayed, as the Federal Financial Management Law stipulates in one of its paragraphs, that In the event of a delay in approving the general budget law for the new fiscal year, disbursement will be made at a rate of 1/12 of the actual ongoing or current expenditures for the previous year.”

He stated, “The federal tripartite general budget issued pursuant to Law No. 13 of 2023 differs from the annual budgets that are subject to Financial Management Law No. 6 of 2019 amended when the approval of its legislation is delayed, as the Federal Financial Management Law stipulates in one of its paragraphs that in the event of a delay in approving the budget law General expenditure for the new fiscal year shall be made at a rate of 1/12 of the actual ongoing or ongoing expenses for the previous year.

Saleh explained, “Approving the general budget law for three years does not provide legal conditioning for the implementation of the effective administration law as long as the general budget has been enacted according to the law for three years. Therefore, I do not see that the financial tables prepared for approval by the House of Representatives constitute an obstacle to the progress of implementing the plan.”

Finance for the year 2024, in its operational and investment parts, and stopping the wheel of public finance, especially its investment part linked to development and economic prosperity, awaiting the approval of the amended budget schedules approved by the executive authority until it is approved by the House of Representatives, as if the matter requires new legislation that delays the purpose of adopting the three-year budget and the investment in time it entails. ".
At the same time, he noted that “the tripartite budget experiment is a financial experiment taking place for the first time in our country. If its goal was and still is to stabilize the adoption and implementation of national development projects without delay related to the annual budget and its annual legislation, then the disruption of its implementation means a return to the annual budget square.”

Here, the fundamental difference must be made clear between implementing the budget that is enacted on an annual basis and the budget that is enacted on the basis of an average time frame, such as the tripartite general budget issued by Law 13 of 2023.”

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Courtesy of Dinar Guru: https://www.dinarguru.com/

Militia Man Article quote: "Iraq joins FEMOZA" It's the World Federation of Free Economic Zones. Why is this important? Iraq has accession to this...We have the accession law to join the European Bank and now we have the accession to the World Free and special economic zones federation...Both of these entities are about finance and building new industrial cities. If you don't think Iraq is going to go international, you might think again...

Frank26 Article: "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House On April 15" SUDANI IS NOT GOING TO DC TO GIVE A NEW EXCHANGE RATE... HE IS GOING TO ACTIVATE IT!

This Is How The Dollar Dies | Mario Innecco

Liberty and Finance: 3-23-2024

Central banks around the world are moving back toward easing. The stock market is continuing to hit new all-time highs.

Gold has also risen to all-time highs while silver has made recent substantial gains as well.

The crack up boom has started, say Mario Innecco. He expects prices to continue to rise and even hyperinflation is possible.

INTERVIEW TIMELINE:

0:00 Intro

1:20 Central banks easing

7:24 Silver update

12:00 Inflation rate

14:30 Fed is trapped

16:05 Preparedness

https://www.youtube.com/watch?v=pIpOjjV9vp4

DINARRECAPS8 3/24/24 DINARRECAPS8 3/24/24

Iraqi Dinar Today Video Updates Sunday Afternoon 3-24-24

Iraqi Dinar Today Video Updates Sunday Afternoon 3-24-24

WOW $3.22 to 1 Back GOOD days – 3:37

Something Exciting Is Happening Us Banks Exchanging Dinar – 4:17

It's Happening WOW Iraqi Dinar RV Will Be Done On 26 March 2024 – 4:04

Iraqi Dinar Today Video Updates Sunday Afternoon 3-24-24

WOW $3.22 to 1 Back GOOD days – 3:37

Something Exciting Is Happening Us Banks Exchanging Dinar – 4:17

It's Happening WOW Iraqi Dinar RV Will Be Done On 26 March 2024 – 4:04

WOW $3.22 to 1 Back GOOD days – 3:37

https://www.youtube.com/watch?v=iuCe6a97dqM

Something Exciting Is Happening Us Banks Exchanging Dinar – 4:17

https://www.youtube.com/watch?v=n8_rCh8yZc8

It's Happening WOW Iraqi Dinar RV Will Be Done On 26 March 2024 – 4:04

https://www.youtube.com/watch?v=36ZNDdK07ew

DINARRECAPS8 3/24/24 DINARRECAPS8 3/24/24

Iraq Economic News and Points to Ponder Sunday Afternoon 3-23-24

Tlm724 Administrator Bondlady’s Corner

The Prime Minister's Advisor Announces The Decline In The Effects Of The Parallel Market And The Decline In Its Activity

Economy News – Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, announced on Sunday the decline in the effects of the parallel market and the decline in its activity, while revealing the reasons for the decline in the exchange rate of the dollar against the dinar, and the importance of monetary policy and its imposition of a climate of stability at the general level.

Saleh said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “economic policy played a major role in imposing a climate of stability in the general level of dollar exchange rates,” indicating that “the state of superiority of the official exchange market in financing Iraq’s foreign trade caused... With the decline in the effects of the parallel market and the decline in its illegal activities.”

He pointed out that "the decline in parallel market rates in favor of the official exchange rate is a tangible success in the cohesion of the country's economic policy in its three aspects: financial, monetary and commercial," pointing out that "the work and high coordination of policies led to providing an incubator of stability embodied in relative price calm and the containment of seasonal price fluctuations." “For materials in high demand, specifically the provision of basic goods related to consumption and daily living for citizens.”

Iraq Economic News and Points to Ponder Sunday Afternoon 3-23-24

Tlm724 Administrator Bondlady’s Corner

The Prime Minister's Advisor Announces The Decline In The Effects Of The Parallel Market And The Decline In Its Activity

He noted "the importance of using the customs policy, which was represented by (reducing customs tariffs and diversifying imports without quantitative limits for basic and necessary goods) as part of the performance of the financial policy in providing price stability and ensuring the supply of materials, food and essential goods, and production supplies at the official exchange rate and in accordance with the requirements of the national economy."

In addition to the high stability in bank financing for foreign trade for the private sector, which began to adopt the stable official exchange rates of 1,320 dinars per dollar in a wide and more flexible manner through the regularity and stability of financing operations.

He pointed out that "the demand for foreign currency for the purposes of financing the country's foreign trade, on the part of the private sector, is today backed by large foreign currency reserves, which are the highest in the country's history, reaching nearly 111 billion dollars today."

He continued, "These high foreign currency reserves reflect the country's annual trade efficiency of more than 16 months of import at least in light of the global standard for the commercial efficiency of foreign reserves, which is set at only about three months, and that the ability of these reserves to cover the exported currency is considered complete coverage in foreign exchange, which is an indicator of stability." Contains any existing or anticipated adverse price fluctuations.

Views 54 03/24/2024 - https://economy-news.net/content.php?id=41804

The Upcoming Meeting Between Baghdad And Washington... Hopes For Quick Solutions To Save The Banking Sector From Collapse

Samir Al-Nusairi Economy News – Baghdad The White House announced that the anticipated and important visit of Prime Minister Muhammad Shiaa Al-Sudani to the United States of America and the meeting with the American administration has been set for next April 15.

Makes it very important, in this critical and complex stage that Iraq is going through, that the agenda include meetings and negotiations with the leaders of the American administration, the Treasury Department, and the Federal Reserve, to determine the next and clear paths for bilateral economic relations between the two friendly countries, which have broad relations in all fields and the topics of the visit?

We believe that one of the important files that will be included in the discussions and negotiations, with the participation of the Central Bank and the Association of Iraqi Private Banks, is the issue of financial and banking reform, protecting the Iraqi banking sector from collapse after the issuance of sanctions and restrictions by depriving 50% of the total private banking sector from dealing in the US dollar, which is the main foreign currency for banking and commercial transactions.

In Iraq and international banking relations for a long time, they must be informed by the American administration and the Ministry of A that continuing to deal with the Iraqi banking system in this exclusionary manner and without explaining the real reasons for the sanctions, which date back to activities of previous years, and that the American officials who issued the sanctions on 28 Iraqi private banks praise the safety of transfers. Foreign Affairs for the purposes of covering private sector imports in 2023 since the implementation of the electronic platform.

This means that the government and the Central Bank are proceeding in coordination and in great cooperation with the US Treasury and the global financial system in accordance with the banking and financial reform strategy adopted by the government in the governmental curriculum and with high discipline in accordance with international standards for combating money laundering and terrorist financing.

These efforts have actually borne fruit in achieving fruitful economic results after the agreements with the American Bank, the US Federal Reserve and some reputable international banks in 2023 and their approval as correspondent banks for some of our banks, and more than 40 accounts were opened for them in these banks.

Therefore, we believe that the inputs and outputs of this important visit must convince the American side to reconsider the sanctions imposed, especially since all the sanctioned banks are currently subject to audit by K2 International, and this confirms the good faith of the banks that the reasons for the deprivation of dealing in the US dollar were not serious errors and can be overcome if they exist. With joint cooperation between the two parties.

The importance of restoring activity and protecting the private banking system and ensuring the results of its work through the electronic platform for the year 2023, which has confirmed its safety and transparency, and I believe that not reaching quick solutions to this issue will lead to confusion in the commercial and banking market and will affect ration card supplies, which are the primary food source for a large segment of the population.

The Iraqi people, the weakening of the plans and procedures of the Central Bank and the government in financial and banking reform, the lack of control over the stability of the exchange rate of the Iraqi dinar, and the damage to the national economy, which World Bank reports confirm that the economy moved during the Sudanese government from fragility to recovery.

The continued sponsorship and support of the United States of America for Iraq as a friendly country requires it to protect the Iraqi economy and the banking sector from collapse in these difficult circumstances that Iraq, the regional countries and the world are going through. We hope that the discussions on the banking file in Washington will result in its return to practicing all its local and international banking activities.

219 views 03/24/2024 - https://economy-news.net/content.php?id=41783

Before Sudanese's Visit To Washington, The Factions Are Silent, The Framework Is Waiting, And Parliament Is Waiting For The Implementation Of Its Decision

Reports | 01:45 - 03/24/2024 Mawazine News – Baghdad The Iraqi armed factions remained silent regarding the visit of Iraqi Prime Minister Muhammad Shiaa Al-Sudani to Washington, which was scheduled for mid-April, amid doubts about the possibility of resolving the issue of ending the role of the international coalition in Iraq during the visit, while Iraqi sources confirmed that Al-Sudani stressed He stressed the priority of this file during his upcoming visit.

Yesterday, Friday, the White House announced that US President Joe Biden will meet with Sudanese at the White House, next April 15, and that they will reaffirm their commitment to the Strategic Framework Agreement, and will work to deepen their common vision for a safe, sovereign, prosperous Iraq that is fully integrated into the broader region, while Al-Sudani's office confirmed that the visit would discuss the post-international coalition phase, without further clarification.

The visit’s program did not appear to be identical, according to the two official statements regarding the international coalition file, which reinforces the factions’ doubts about Washington’s seriousness in ending the coalition’s role in Iraq, especially since American officials had previously confirmed that Baghdad did not request ending the coalition’s role.

The Iraqi government reassured those factions that the issue of ending the coalition’s presence would be among the topics of the visit, and the advisor to the Iraqi Prime Minister, Hussein Allawi, said in a press statement yesterday, Saturday, that “in addition to the data of the dialogues of the Supreme Military Committee, the expected meeting of the Iraqi Prime Minister with the President "A timetable will be determined on the basis of which the American coalition forces will withdraw."

He added, "The strategic partnership between the Iraqi government and the United States proceeds within the framework of the Strategic Framework Agreement that Parliament voted on during the past years," stressing that "Al-Sudani took a decision to end the tasks of the international coalition, and this decision made the Iraqi-American Supreme Military Committee conduct a dialogue between Iraq and representatives The international coalition countries, to set a timetable,

and these dialogues are continuing by the committee and go in the direction of assessing the threat of ISIS and the capabilities of the Iraqi armed forces, and in return, they will set a timetable based on these data on the one hand, and on the basis of the meeting between the Prime Minister and Biden.

Iraq News: Al-Kadhimi’s political advisor was sentenced to one year in prison.

The leaders of the armed factions and the “coordination framework” associated with them did not express any position, nor did they issue any comment regarding the upcoming visit, but a government official said that “they are forced to accept,” indicating that “ The factions’ silence came after Sudanese pledged to make the issue of removing American forces a priority during his visit to Washington.

The official, who refused to reveal his identity, confirmed that the delegation accompanying the Sudanese would be ministerial and specific, in reference to conditional approval from the US State Department for the delegation accompanying the president.

Al-Sudani had received a similar invitation to visit Washington in September of last year 2023, a year after the formation of his government, but it did not take place.

The visit comes at a time when Baghdad and Washington are holding joint talks to remove the international coalition forces, and the first round of bilateral dialogue held in Baghdad, on January 27, led to an agreement to form a joint military committee to review the coalition’s mission, end it, and move to bilateral security relations. The committee began its work on February 11 of last year.

The talks came due to pressure on the Sudanese government from the Iraqi armed factions allied with Iran and the political parties associated with them, as they demanded the removal of international coalition forces from Iraq, following Washington’s implementation of retaliatory strikes in Iraq that led to the assassination of prominent leaders in those factions.

https://www.mawazin.net/Details.aspx?jimare=244470

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Dinar Recaps 20 3/24/24 Dinar Recaps 20 3/24/24

Eight Financial Giants Pay Settlement Over Widespread Fraud and Collusion Allegations

Eight Financial Giants Pay Settlement Over Widespread Fraud and Collusion Allegations

Saturday, 23 March 2024, 22:11 PM

JPMorgan Chase, Bank of America and Six Financial Giants Pay $70,000,000 Settlement Over Allegations of ‘Widespread Fraud and Collusion’

Henry Kanapi

Eight financial giants are shelling out tens of millions of dollars to settle a decade-long whistleblower lawsuit.

JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, Fifth Third Bancorp, Barclays, Bank of Montreal (BMO) and William Blair were sued in 2014, accused of reaping millions in illicit profits by rigging interest rates on municipal bonds.

Eight Financial Giants Pay Settlement Over Widespread Fraud and Collusion Allegations

Saturday, 23 March 2024, 22:11 PM

JPMorgan Chase, Bank of America and Six Financial Giants Pay $70,000,000 Settlement Over Allegations of ‘Widespread Fraud and Collusion’

Henry Kanapi

Eight financial giants are shelling out tens of millions of dollars to settle a decade-long whistleblower lawsuit.

The whistleblower, identified in the lawsuit as Edelweiss Fund LLC, says the firms have paid $70 million to settle the lawsuit.

Edelweiss accused the group of Wall Street firms of “widespread fraud and collusion” after the state of Illinois hired them to market municipal bonds known as variable rate demand obligations (VRDOs) at the lowest possible interest rates.

VRDOs are tax-exempt bonds issued by municipalities to get long-term financing, usually spanning 20 to 30 years.

But instead of marketing the bonds at low interest rates, the banks allegedly inflated the rates to generate millions of dollars in fees and discourage investors from converting the debt securities to cash.

With the settlement “finalized and executed,” the state of Illinois is set to collect $33.6 million while Edelweiss principal Johan Rosenberg will receive $14.4 million as a reward for bringing the lawsuit on behalf of the government. The remaining $22 million will be set aside to pay for the legal expenses incurred by Edelweiss through the years.

Says Rosenberg,

“My goal when I started scrutinizing the manner in which rates on VRDOs were reset in about 2010 was to shine a light on this market because of the benefit the public receives from the critical government projects that VRDOs fund.

In the years since the litigation began, we have uncovered much that was unknown about how this market is operated and how remarketing agents behave.”

Source: The Daily Hodl

https://dinarchronicles.com/2024/03/23/eight-financial-giants-pay-settlement-over-widespread-fraud-and-collusion-allegations/

Dinar Recaps 20 3/24/24 Dinar Recaps 20 3/24/24

"Tidbits From TNT" Sunday 3-24-2024

TNT:

CandyKisses: Political: The Sudanese government has the keys to removing US forces

Information/private.

Political analyst Adnan al-Saadi said on Saturday that al-Sudani's upcoming visit to America in the middle of next month, which will discuss the file of the exit of US forces, may change the equation for those forces to remain in Iraq.

Al-Saadi said in a statement, to the agency / Information /, that the Iraqi factions and political forces reject the stay of US forces and there is great popular discontent rejecting the Americans, noting that "the Iraqi forces and the Popular Mobilization are able to protect the country from any internal or external threat."

He added that, "Sudani's visit to America will discuss the file of dollar prices and I do not expect them to decline and win the file as it is the only US means of pressure on Iraq to maintain its forces."

TNT:

CandyKisses: Political: The Sudanese government has the keys to removing US forces

Information/private.

Al-Saadi concluded: "The Sudanese has a great force that supports him in the file of the exit of US forces, represented by the coordination framework, noting that there are" many meetings of the framework that talked about the file of the exit of US forces and developed many proposals."

It is noteworthy that the strategic framework agreement between Iraq and America can be amended and canceled as it is, according to specialists.

Prime Minister Mohamed al-Sudani's visit to the White House is the first since he became prime minister.

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Tishwash: Iraq informs the World Bank of its plan to support the economy’s resources

Minister of Finance, Taif Sami Muhammad, stressed the importance of the partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy.

A statement from the Ministry of Finance, a copy of which was received by the Mail, stated that “Minister Taif Sami Mohammed met with the President of the European Bank for Reconstruction and Development ( EBRD ), Odile Renaud-Basso, at the bank’s headquarters in the United Kingdom, and the Minister of Finance began her meeting with the President of the European Bank for Reconstruction and Development.” Referring to the strategic partnership between Iraq and the Bank, and discussing ways to strengthen bilateral relations to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system.

The Minister of Finance stressed “the importance of the partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy,” noting that “the Iraqi government’s priorities are investing in the areas of energy and digital transformation in the financial infrastructure.”

For her part, Odell stressed “the bank’s desire to work in Iraq and contribute to supporting the private sector and renewable energy link

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CandyKisses: Kurdistan details the "secrets" of its financial differences with Baghdad. This body obstructs the agreements

Economy News - Baghdad

The Minister of Finance and Economy in the Kurdistan Region, Awat Sheikh Janab, announced that not sending salaries from 300,000 to 360,000 of the region's employees by the federal government "is tantamount to planting a time bomb and provoking division within society" by a political decision, and while he pointed out that the deep state is the one that controls the Iraqi scene, he stressed that the number of employees of the region is less numerous compared to Iraq by 16%.

Sheikh Janab said in a television interview with a group of local media that he headed the negotiating delegation of the Kurdistan Regional Government with Baghdad for a long time, noting that the delegation was insisting on treating the region's employees like the employees of Iraq, and as a result an agreement was reached last April sponsored by the President of the Kurdistan Regional Government, Masrour Barzani, and the President of the Federal Government, Muhammad Shia Al-Sudani, but the deep state in Baghdad retracted the agreement one month after its conclusion.

He explained that "the deep state is the one that governs Iraq and it is known what these parties are, while all those in the political scene are not key actors in it, but only tools to implement the policies of the deep state," noting: "In the event of a political agreement between Erbil and Baghdad, all problems will be addressed, without which we will return to square one."

He added that the region has its constitutional powers of parliament, government, election commission, oil industry and independent finance, and the constitution recognized this as well as the federal system, adding that "what is happening now by the Federal Court is contrary to the constitution, and the President of the Federal Court from Amman stated that the current constitution is inappropriate."

He pointed out that the Ministry of Finance of the region has fulfilled all its obligations and prepared the lists of employees for the month of March.

In response to a question about whether obstructing the sending of salaries is the responsibility of the Iraqi Minister of Finance, Sheikh Janab said, "Unfortunately, a bad image is conveyed about the Federal Minister of Finance, Mrs. Taif Sami, but what I know about her is that she is a professional figure and does not consider herself a politician and does not have political support, but because of the decision of the Federal Court, so she implements the decision strictly."

He attributed the cause of the main problem to an emerging political situation in the Kurdistan Region since 2014 by a decision of the federal government by linking the share of the Kurdistan Region to actual spending "with the aim of limiting the development of the region, and this constitutes an injustice against Kurdistan, followed by other unfair decisions such as reducing the region's share from 17% to 12.6%, and linking everything to the oil file, and this is like Othman's shirt to justify those decisions that contain clear and flagrant injustice."

He pointed out that sending the salaries of the employees of the Kurdistan Region is incomplete is tantamount to planting a time bomb, dividing society and throwing fire in the Kurdish house, by not sending salaries from 300,000 to 360,000 employees, stressing that accepting some decisions turns them into a fait accompli, so solving the matter requires a lot of wisdom and patience.

He went on to say that "the number of our employees in the Kurdistan Region is much less than the employees of Iraq, where we have about one million and 200 thousand employees, which is less compared to Iraq by only 16%."

He stressed that it is not possible to cover the remaining salary deficit because local revenues are insufficient, explaining that attempts are continuing to reach a solution "where we will distribute salaries as soon as the full amount arrives".

He expressed optimism that this will be achieved, noting that "things are moving towards a solution and there is a preliminary agreement with Baghdad on the salaries of military personnel, where we send lists through special codes that can be audited by the financial control."

He also referred to the PMF, saying that the budget law does not include any note about the PMF, despite the fact that their numbers are large and they do not receive their allocations from the Federal Ministry of Finance, but from the Iraqi Cabinet Office.

He stressed that delaying the salaries of the employees of the Kurdistan Region is linked to a political decision imposed on us, which can only be solved by a political decision, pointing to the impact of political interference in salaries, as each time a decision was required by the Iraqi Council of Ministers to pay the salaries of the region's employees because of the control of partisan and political influences in this matter.

He stressed that the region is the product of 100 years of struggle and should not allow everything that affects the entity of the Kurdistan Region, and that treating the region as a province and weakening the regional government means weakening all Kurdish parties, explaining that what the Federal Court practices represents interference in the work of the executive and legislative authorities.

On the oil file, the Minister of Finance of the region said: "Out of 14 oil fields, we now have only 9 operating fields, and since April 1, 2023 until now, these fields have produced 45 million barrels, of which 11.8 million barrels have been delivered to Iraq from June 25, 2023 until December 1, 2023, without Baghdad paying the cost of producing or transporting a single barrel of them, and the rest of them is 33 million barrels, and according to contracts, 45% of them go as dues to oil companies and 55% to the regional government." , indicating that the average price per barrel of oil is $ 31.

As for non-oil domestic revenues, he revealed that they amount to 300 billion dinars, of which 180 billion goes as operating expenses and petty cash ministries, and 22 to 24 million dollars of which are paid to Dana Gas for electricity production.

He also pointed to an account project in coordination with the Central Bank of Iraq and Iraqi banks, where 250,000 employees have been registered so far and the registration of all employees is scheduled to be completed until the end of this year, "and it can be used to localize the salaries of employees."

Al-Sudani had previously acknowledged that the mechanism for distributing the salaries of the region's employees was not the work of the federal government, but that interference in this matter was a violation of the constitution

Mot: the Pastor Announced ~~~~

Mot: . Helping the ""Wee Folks"" to Learn!! – LOL

Dinar Recaps 20 3/24/24 Dinar Recaps 20 3/24/24

News, Rumors and Opinions Sunday Morning 3-24-2024

KTFA:

Godson: Imo.. all I know is First quarter is all most over..

Clare: Parliament Finance confirms the increase in the size of the 2024 budget.. What are the reasons for delaying its sending?

3/23/2024 Baghdad

Today, Saturday, the Parliamentary Finance Committee confirmed that the size of the federal budget had risen to 207 trillion dinars, explaining the reasons for the delay in the general federal budget schedules reaching the House of Representatives for approval.

Moeen Al-Kazemi, a member of the Parliamentary Finance Committee, commented on the issue by saying that the delay occurred with the Prime Minister’s Office or by the Office of the Council of Advisors.

KTFA:

Godson: Imo.. all I know is First quarter is all most over..

Clare: Parliament Finance confirms the increase in the size of the 2024 budget.. What are the reasons for delaying its sending?

3/23/2024 Baghdad

Al-Kadhimi explained, “The Ministries of Finance and Planning have completed their work regarding the budget schedules, as the amendments were supposed to be sent before the end of 2023.”

He added, “If the amendments are sent, the Finance Committee in the House of Representatives will review them and then present them to the Council for approval.”

He pointed out that “the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made to it by the government to some numbers that it deems necessary,” noting that “the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion dinars.” Iraqi".

The Legal Committee announced earlier today that the financial budget schedules for 2024 will soon reach the House of Representatives.

On March 13, the Ministry of Finance announced the completion of data related to the 2024 budget schedules, the inclusion of texts, and sending them to the Council of Ministers. LINK

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Clare: Biden to Host Iraqi PM Sudani on April 15, White House Says

Biden and Sudani will consult on issues including ISIS, Iraqi financial reforms and energy independence, the White House said in a statement.

RMF: Discussing financial reforms post Ramadan implies no new rate prior ?? Any thought ?

DMcCall: The reforms are MUCH more than a rate reinstatement! Reforms will deal with international interactions and that requires an international rate ASAP! This process has nothing to do with the White House, or the US as a whole! Iraq is free now and is making decisions for Iraqi citizens and not US citizens…Just my OPINION!

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Henig: Vietnam

Regulatory sandbox to be developed for three fintech solutions only

March 19, 2024 - 07:29

In the latest draft, the regulatory sandbox will be developed for three fintech solutions, including credit scoring, open application programming interface (API) and P2P lending.

HÀ NỘI — The State Bank of Vietnam has submitted to the Government a draft decree on a regulatory sandbox for fintech in which the pilot implementation will be carried out for only three solutions, credit scoring, open application programming interface (API) and P2P lending.

After seven versions of the draft which have been developed since 2023, the latest version reduced the number of fintech solutions for the regulatory sandbox from six to three on limited resources for implementation.

Previously, six solutions were proposed which also included extension of credits on technology platform, technology-based solutions (including blockchain) and other banking support services in line with the sandbox programme.

The central bank said that the regulatory sandbox will be implemented for three solutions to ensure appropriateness to the resources. The implementation of the sandbox will last a maximum of two years.

The central bank will decide the scope of fintech solutions offered sandbox implementation, including but not limited to transactions limits and the number of participants.

The banking industry in recent years has witnessed a strong rise of new technologies application, the central bank said.

In Việt Nam, fintech development was robust with the participation of technology start-ups and non-bank organisations in the banking and finance sector through the provision of solutions to support banking activities without directly providing services to end-users or independently.

The fintech boom has pushed financial and monetary management agencies into difficulties in supervising risks such as money laundering and terrorist financing, in ensuring network security, protecting user data and rights of consumers and investors. The absence of regulatory framework poses challenges in harmonising the promotion of innovation and fair competition with traditional financial institutions, and put fintech companies into limbo.

The absence of regulatory framework also caused a number of problems.

For example, the emerging of P2P lending in Việt Nam recently with the lack of transparency and regulatory framework led to negative phenomena such as predatory lending and disputes.

Many countries have developed regulatory sandbox policies for fintech which will become a base to evaluate feasibility, benefit and risk of the solutions, to develop appropriate responses and decisions, the central bank said. — VNS LINK

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Courtesy of Dinar Guru: https://www.dinarguru.com/

Frank26 When this blessing occurs don't run to the bank. Don't trip over yourself and others. Walk. Take your time. Learn. Look. Ask questions. Learn from other's mistakes. That's what a wise person does. Don't run to the bank. Take your time and understand exactly what you're doing.

Jeff Article: "The White House announces the date of Sudanese's visit to Washington" Three articles tell you that on April 15th Iraq's prime minister Sudani will come to Washington DC to meet with Joe Biden and US official...Iraq has just officially give you the rate change date in these articles. No it is not April 15th. April 15 is not your rate change date... (Kuwait March 24,1991. Sunday.)

Salah opening on European banks

Nader: 3-24-2024

https://www.youtube.com/watch?v=cjJU7nooyvM